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Poster: Administrator, Curator, or StaffNoiseCollector Date: Nov 16, 2011 2:41pm
Forum: occupywallstreet Subject: more numbers

Congratulations $15 TRILLION IN DEBT

http://www.washingtontimes.com/news/2011/nov/16/federal-debt-more-15-trillion/

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Poster: dead-head_Monte Date: Nov 17, 2011 6:34am
Forum: occupywallstreet Subject: Re: more numbers - unsustainable - why ignore them?

Wall Street's Unregulated Derivatives Trading hit Record $681 Trillion in Q3 2007! Over-the-counter Trading of these complex and risky Unregulated Derivatives continues today!

• The crash of September 2008 brought the largest bankruptcies in world history, pushing more than 30 million people into unemployment and bringing many countries to the edge of insolvency. Wall Street turned back the clock to 1929!
In 2011 the Billionaires broke records in size (1,210) and total net worth ($4.5 trillion).
David and Charles Koch are tied in 18th place on the Forbes Billionaires List.
Cancer Risks for Koch Brothers Profits - David and Charles are worth $22 billion each
U.S. foreclosure rate jumped 7 per cent in October 2011, with 230,678 new properties affected. The incredibly high number of foreclosures occurred after the American recession began in September 2008.
Goldman Sachs GUILTY of robo-signing mortgages.
American Home Mortgage Files 'Robo-Signing' Suit.
Robo-signing" of mortgages still a problem.
One of the worst CEOs of all time, Angelo Mozilo and Countrywide Financial made a fortune in the home mortgage business until the sub-prime housing crisis led to Bank of America absorbing the company in July 2008.
S.E.C. officials said Angelo Mozilo had misled investors. In June 2009, Mr. Mozilo was charged with securities fraud and insider trading in a civil suit brought by the Securities and Exchange Commission. On Oct. 15, 2010, Mr. Mozilo agreed to repay $45 million in ill-gotten profits and $22.5 million in civil penalties as part of a settlement with the SEC. Neither he nor two other former Countrywide executives who also agreed to fines admitted to any wrongdoing.
The world pumped about 564 million more tons of carbon into the air in 2010 than it did in 2009. That's an increase of 6 percent!
CO2 greenhouse gas emissions are higher than the worst-case scenario outlined just four years ago.
CO2 gas emissions are linked to Global Warming and Climate Change. 97% of Scientists AGREE!
THE world's farmers planted 148m hectares of genetically modified crops in 29 countries last year, according to the International Service for the Acquisition of Agri-biotech Applications, an industry body.
• America is by far the biggest GM farmer, with 66.8m hectares under cultivation, 2.8m more than in 2009.

• By contrast, many European countries are subject to severe restrictions on growing GM (genetically modified) crops. Developing countries are planting GM crops at a more rapid rate than rich countries. Brazil has added some 10m hectares since 2008 and overtook Argentina as the second-biggest grower in 2010. India, too, increased its area by over 10% last year. The most popular crop is soya, while the most common modification is tolerance to herbicides.

On January 17, internationally recognized plant pathologist Dr. Don Huber, wrote a letter to USDA Secretary Tom Vilsack warning of the discovery of a new pathogen and a possible link between Roundup Ready® (GMO) corn and soybeans and severe reproductive problems in livestock as well as widespread crop failure.

• Less than 3 weeks later, the Obama administration approved 2 new Roundup Ready® GMO crops, set to be planted this spring. Monsanto owns patents on the genes of more than 93% of soybeans, 80% of corn, and 95% of sugar beets planted in the U.S. -- all genetically modified to be resistant to the weed killer Roundup. Tell Obama to halt the sale and planting of Monsanto’s recently approved Roundup Ready® GMO alfalfa and sugar beets. (GMO is an abbreviation for genetically modified organism.)
In 2011 we hit 7 BILLION PEOPLE population on Planet Earth!
How Did This Happen and Can It Go On?

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Poster: dead-head_Monte Date: Nov 17, 2011 7:11am
Forum: occupywallstreet Subject: Re: more numbers - unsustainable - why do this?

More Numbers - NOT Sustainable:
Occupy Police raids in riot gear - Googled for you

Occupy Police raids after midnight - Googled for you

Occupy Police tear down tents - Googled for you

Occupy Police use pepper spray - Googled for you

Occupy Police use rubber bullets - Googled for you

Occupy Police use flash grenades - Googled for you

Occupy Police arrest protesters - Googled for you

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Poster: Edsel Date: Nov 17, 2011 8:06am
Forum: occupywallstreet Subject: Re: more numbers - unsustainable - why do this?

Thank you, glad to see the Police are getting it done.

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Poster: rastamon Date: Nov 17, 2011 8:15am
Forum: occupywallstreet Subject: Re: more numbers - unsustainable - why do this?

maybe the OWS will get the proper permit's and demonstrate within the law, and elect legislators who will vote the will of the people, not special interests and political greed.

I, for one, will NOT vote for or jump on ANY bandwagon toward socialism, only for a Constitutional Republic and a Capitalist system that's fair for hard working American's. The lazy one's who depend on Government for a free(free for them) handout can do without or sucker someone other than the taxpayer.

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Poster: jgIynn1.2 Date: Nov 17, 2011 8:54am
Forum: occupywallstreet Subject: Re: more numbers - unsustainable - why do this?

Maybe Cartman can help

http://www.southparkstudios.com/clips/103809/hippie-infestation

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Poster: Administrator, Curator, or StaffNoiseCollector Date: Nov 17, 2011 9:19am
Forum: occupywallstreet Subject: Re: more numbers MORE LOSSES FROM BAILING OUT MOSTREET

http://www.detnews.com/article/20111114/AUTO01/111140434/1361/U.S.-boosts-estimate-of-auto-bailout-losses-to-$23.6B

But since GM is union shop I guess bailing them out is ok...

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Poster: jgIynn1.2 Date: Nov 17, 2011 9:27am
Forum: occupywallstreet Subject: Re: more numbers MORE LOSSES FROM BAILING OUT MOSTREET

Don't worry the guaranteed loans to promote greenness will work out . . . .

. . . Uh nevermind.

wonder who made out on that deal?

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Poster: dead-head_Monte Date: Nov 17, 2011 10:43am
Forum: occupywallstreet Subject: Re: more numbers - unsustainable - why do this?

Pepper-sprayed woman gets mayor's apology!

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published Novemeber 17, 2011
By Mike Lindblom and Lynn Thompson
Seattle Times staff reporters

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Mayor Mike McGinn said he's sorry police pepper-sprayed peaceful Occupy Seattle demonstrators, after a photo of 84-year-old demonstrator Dorli Rainey's dripping face went viral. But the apology didn't satisfy protesters who say the police response has been "excessive."

"To those engaged in peaceful protest, I am sorry that you were pepper-sprayed," McGinn said in a statement Wednesday, Nov 16. The mayor said he has spoken with Rainey.

The confrontations began Tuesday afternoon after demonstrators blocked downtown intersections, delaying commuters. As far back as Oct. 8, police have followed a policy of keeping streets clear, by arrest if necessary.

McGinn said he and Police Chief John Diaz are reviewing two pepper-spray incidents from Tuesday and developing procedures to ensure "appropriate commanders" are on hand at future protests.

Diaz couldn't be reached Wednesday, and police spokesman Sgt. Sean Whitcomb declined to comment, saying, "We'll defer to the mayor." Sgt. Rich O'Neill, head of the police union, did not return calls for comment.

Police said they used pepper spray to disperse a crowd in Belltown, while arresting a 17-year-old girl who swung a stick at officers. Protesters regrouped on Fifth Avenue at Pine Street. "Pepper spray was deployed only against subjects who were either refusing a lawful order to disperse or engaging in assaultive behavior toward officers," said the department's online statement. read the full article on-line

interview with Dorli Rainey on Nov 17, 2011
watch | listen | read the transcript

84-year-old retired Seattle school teacher named Dorli Rainey was pepper-sprayed in the face during a protest.. Rainey was born in Austria and moved to the United States in 1956 after working as a technical translator in the U.S. Army in Europe. She briefly campaigned to run for mayor in Seattle in 2009.

According to Occupy Seattle organizers, a priest and a pregnant teenager were also pepper-sprayed that Tuesday night.

DORLI RAINEY: Good morning. Thank you for having me on.

I am a member of Occupy Seattle. I spent five days in D.C. with the October 2011 group, which was a wonderful thing to go to, and I hope to go to that group again in March.

I got pepper-sprayed because we were penned in by the motor — by the bicycle groups, until there was no way out. And the minute the people had us penned so tightly that we could barely move, they started letting loose with the pepper spray. And it was not just a few people that were targeted. When you look at the pictures, you will see that the pepper spray fog and the stream of pepper spray is all over.

My problem is not only with police brutality, it is with the progressive getting worse attitude of the police. I was tear-gassed — and thank you, Norm Stamper — in Seattle when the WTO was there in Seattle. And I also was in a workshop with Arundhati Roy when she was in Seattle for the WTO. These locations, while they were pretty violent outside, were not nearly as bad as what we see now. It is getting progressively worse. Our freedoms are getting curtailed. And I just listened to the press being banned at Wall Street — this in a country where we export our sort of democracy all over the world at gunpoint.

And what we have to do is change the mindset of people that guns will not solve our crisis. The President going to Australia to introduce troops into Australia, I fear for Australians, because, sooner or later, they will be occupied like our troops are occupying practically half of the world. Once the troops get there, there’s no getting them out.

complete interview with Dorli Rainey on-line, Nov 17, 2011

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Poster: rastamon Date: Nov 18, 2011 6:58am
Forum: occupywallstreet Subject: Re: For the sheeple who support the OWS

check this out! >>
http://occupywallst.org/forum/proposed-list-of-ows-demands/

Here's the Ignorant SOCIALIST/COMMIE BULLSHIT that first caught my eye >>

* Make homeschooling illegal,
religious fanatics use it to feed their children propaganda.

* Ban the private ownership of land.
* Ban private gun ownership.

* Open the borders to all immigrants, legal or illegal. Offer immediate, unconditional amnesty, to all undocumented residents of the US.

* Immediate debt forgiveness for all.

Like I and many ask...what's the OWS "end game" ??

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Poster: DeadRed1971 Date: Nov 18, 2011 8:59am
Forum: occupywallstreet Subject: Re: For the sheeple who support the OWS

OWS has no desire to accomplish anything of substance. They just want to disrupt and divide this country.


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Poster: rastamon Date: Nov 18, 2011 7:37am
Forum: occupywallstreet Subject: Re: For the sheeple who support the OWS

educate yourself (youtube) >> http://tinyurl.com/7vpvwao

In the "Comments" >> "Look. Lets be clear here. It is not capitalist but corporatist's. There is a very real and distinct difference. I think everyone at the OWS camps should play this video so we can all quit fighting with each other and get to the real truth of the matter.

Watch this video to find out who the real enemy is in this country and to the world. These guys are the real terrorists. These are the people we HAVE TO TAKE DOWN before ANYTHING CHANGES. WAKE UP OWS. Capitalism is not the problem."

This post was modified by rastamon on 2011-11-18 15:37:11

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Poster: dead-head_Monte Date: Nov 18, 2011 8:19am
Forum: occupywallstreet Subject: Re: For the sheeple who support the One Percent

Rastamon, check this out! >>
http://www.merriam-webster.com/dictionary/fascism
Here's the Ignorant FASCIST BULLSHIT that first caught my eye >> according to Merriam Webster's dictionary, the definition of Fascism is:
A political philosophy, movement, or regime that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation , and forcible suppression of opposition.

Okay, let me add a few items here, and I'll put them in parentheses.

A political philosophy (U.S. Congress), movement (Tea Party), or regime (the greedy one percent) that exalts nation and often race above the individual (the 99 percent) and that stands for a centralized autocratic (lobbyist-run) government headed by a dictatorial leader (like dubya-Bush), severe economic (austerity) and social regimentation (Patriotic Act), and forcible suppression of opposition (OWS free speech).
imo, I "imagine" that Socialism is better than Fascism. I'm with Jerry Garcia:
What we're thinking about is a peaceful planet. We're not thinking of anything else. We're not thinking about any kind of power. We're not thinking about any of those kinds of struggles. We're not thinking about revolution or war or any of that. That's not what we want. Nobody wants to get hurt. Nobody wants to hurt anybody. We would all like to be able to live an uncluttered life, a simple life, a good life and think about moving the whole human race ahead a step. -- Jer comments made in The Hippie Temptation documentary, 1967.

• My proudest Grateful Dead moment was their unscheduled Free Benefit Show at M.I.T.'s Kresge Plaza on May 6, 1970, in repsonse to the Kent State Massacre.

• My second proudest Grateful Dead moment(s) was their involvement in protecting our environment for all of us, especially for future generations. In response to Greenpeace asking Jer for financial help on August 7, 1977, the Jerry Garcia Band played a Benefit for Greenpeace, with Maria Muldaur, at Pier 31, San Francisco, on August 12, 1977. GD's passion for our Earth peaked on September 13, 1988 when Jerry Garcia, Bob Weir, and Mickey Hart, and the director of Cultural Survival, and the Chairman of Greenpeace USA, and the Director of the Rainforest Action Network sat down at the United Nations. They alerted the world's press to the horror of the vanishing rain forest.

When asked why the Grateful Dead was getting into the act and helping to publicize the plight of the rainforest, Jerry Garcia answered in his style
"It seems pathetic that it has to be us [Grateful Dead], with all the other citizens of the planet, and all the other resources out there, but since no one else is doing anything about it, we don't really have any choice." (read more in Monte's Taper Handbook)

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Poster: rastamon Date: Nov 18, 2011 8:28am
Forum: occupywallstreet Subject: Re: For the sheeple who support the One Percent

I'm not concerned with the Tea Party, I'll pick and choose their pluses, and discard the rest. Also the same with the OWS.
I'm all for free speech, as long as it's NOT an illegal assembly or "occupation" and violent. I'll listen to all, then VOTE in who I think is relevant to my beliefs.

"What we're thinking about is a peaceful planet. We're not thinking of anything else.

We're not thinking about any kind of power. We're not thinking about any of those kinds of struggles.

We're not thinking about revolution or war or any of that. That's not what we want.

Nobody wants to get hurt. Nobody wants to hurt anybody. We would all like to be able to live an uncluttered life, a simple life, a good life and think about moving the whole human race ahead a step"

That's a good quote! It includes, to me, our Constitutional Republic and Capitalism - as it was meant to be.

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Poster: Administrator, Curator, or StaffNoiseCollector Date: Nov 18, 2011 1:46pm
Forum: occupywallstreet Subject: Cockupy Ballstreet

http://www.thesmokinggun.com/buster/occupy-pensacola-furniture-theft-674319

http://campaign2012.washingtonexaminer.com/article/wall-street-unoccupied-nowhere-go

http://newyork.cbslocal.com/2011/11/17/ows-protesters-chant-follow-those-kids-as-small-children-try-to-go-to-school-on-wall-street/

http://dailycaller.com/2011/11/17/early-video-of-obama-surfaces-from-harvard-law-school-era/

http://www.chicagotribune.com/business/breaking/chi-illinois-unemployment-rate-rises-to-101-20111118,0,1678223.story

http://www.cnbc.com/id/45356640

http://www.washingtonpost.com/opinions/pay-to-play-brought-to-you-by-washington/2011/11/18/gIQAdC45XN_story.html?hpid=z3

enjoy

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Poster: bluedevil Date: Nov 18, 2011 2:02pm
Forum: occupywallstreet Subject: Re: For the sheeple who support the One Percent

Please explain to me the benefits of unfettered capitalism. I don't quite understand the intracies of the invisible hand and how it promotes individual freedoms and liberty. Then again, I don't understand how corporations are people...

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Poster: deadhead53 Date: Nov 18, 2011 10:42am
Forum: occupywallstreet Subject: Re: For the sheeple who support the One Percent

Sorry Monte - Dubya (while not my favorite President) was no where near the dictotrial level you claim so please stop with that!

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Poster: DeadRed1971 Date: Nov 18, 2011 11:40am
Forum: occupywallstreet Subject: Re: For the sheeple who support the One Percent

No, but there was that Cheney fellow:

http://www.youtube.com/watch?v=6wXAzAgb4pA

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Poster: dead-head_Monte Date: Nov 18, 2011 12:39pm
Forum: occupywallstreet Subject: Re: For the sheeple who support the One Percent

I didn't claim 'any' "dictatorial level". I said "government headed by a dictatorial leader (like dubya-Bush)".

Now that you mention it, maybe I should have said, "government headed by a dictatorial leader (like dubya-Bush) -- The George W. Bush presidential administration (2000 - 2008) was infamously known for bullying Congress."

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Poster: deadhead53 Date: Nov 18, 2011 4:14pm
Forum: occupywallstreet Subject: Re: For the sheeple who support the One Percent

Ya bush really bullied that congress! wtf was it high school those congessmen and women could not think and act for themselves? Ya really bullied and u meant to imply bush was a dictator, sorry those comparisons don't work, bush was no mao or Stalin or Fidel! Those guys were and still are brutal dictators!

This post was modified by deadhead53 on 2011-11-19 00:12:22

This post was modified by deadhead53 on 2011-11-19 00:14:44

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Poster: dead-head_Monte Date: Nov 30, 2011 4:35am
Forum: occupywallstreet Subject: Re: Fascism for the sheeple who support the One Percent

The radical move towards Fascism that Bush, Cheney, and Alberto Gonzalez started, the Obama Administration vows to continue full-steam ahead! The U.S. "Justice System" will likely take another HUGE STEP toward Fascism TODAY by approving Torture and Indefinite Detention for U.S. Citizens who live inside the U.S.A.

The U.S. Senate could vote as early as today on a Pentagon spending bill that could usher in a radical expansion of indefinite detention under the U.S. government. A provision in the National Defense Authorization Act would authorize the military to jail anyone it considers a terrorism suspect — anywhere in the world — without charge or trial. The measure would effectively extend the definition of what is considered the military’s "battlefield" to anywhere in the world, even within the United States. Its authors, Democratic Sen. Carl Levin of Michigan and Republican Sen. John McCain of Arizona, have been campaigning for its passage in a bipartisan effort.

This new spending Bill includes another separate provision that would repeal the executive order banning torture. The use of torture by the U.S.A. violates U.S. Law, and violates International Treaties against Torture - to which the U.S.A. has signed.

The White House has issued a veto threat, with backing from top officials including Defense Secretary Leon Panetta, Director of National Intelligence James Clapper, and FBI Director Robert Mueller. “This would be the first time since the McCarthy era that the United States Congress has tried to do this,” says Daphne Eviatar. Human Rights First has gathered signatures from 26 retired military leaders urging the Senate to vote against the measure.

The measure was inserted into the full military spending bill after the Armed Services Committee quietly approved it without a single public hearing. Now Democratic Senate Majority Leader Harry Reid has set today as a procedural vote day to advance the legislation. The National Defense Authorization Act legislation is 680 pages long. One reason this has been able to get through so quietly is that the controversial provisions are just three or four provisions within this huge package.

U.S. citizens who believe in Democracy and Justice should be concerned about creating a system of indefinite military detention within the United States by statute. This would be the first time since the McCarthy era that the United States Congress has tried to do this. In the 1950’s, that was actually repealed before it was ever used. But, in this case we have seen the Bush and Obama administrations very eagerly hold people without trial for 10 plus years in military detention. So there’s no reason to believe they wouldn’t continue to do that here. So we’re talking about indefinite military detention of U.S. citizens, of lawful U.S. residents as well as of people abroad, simply for being suspected.

This is military custody without trial. It's what we have in Guantanamo Bay and at the U.S. Base at Bagram (in Afghanistan). Only now we’re expanding the battlefield of The War on Terror to the United States. Some members of Congress have said recently the battlefield now is the United States as well, and the U.S. military ought to be able to operate here as well. Another very controversial provision in the bill and what the administration has particularly objected to, is the mandatory military custody provision which would say anyone suspected of terrorism in any way connected to Al Qaeda would have to be put into military custody. So, the government wouldn’t even have the option. So, all these FBI investigations that are thwarting terrorist attacks and local police investigations, immediately that would have to be turned over to the U.S. military, and that would become a military action here in the United States, on U.S. soil.

Battlefield America: U.S. Citizens Face Indefinite Military Detention in Defense Bill Before Senate
http://www.democracynow.org/2011/11/29/battlefield_america_us_citizens_face_indefinite

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Poster: rastamon Date: Nov 30, 2011 5:23am
Forum: occupywallstreet Subject: Re: Fascism for the sheeple who support the One Percent

can't argue with you there. One of my fav pundits, Alex Jones, has been warning about this for years. Another pundit I enjoy completely blew Nit and Newt out of the water and has previously said Bush was the worst president we've ever had. You think true teaparty conservatives like the current repeblican rabble running? LOL! Newt(like Perot was) is owned by democrat interests to divide the republican vote and usher in more Obama. DUH! Herb Cain? Slaughtered by the govt media machine, they put that "N" in his place. Anyone with half a brain can see the lynching he got for not being part of the Obama Plantation. So elect the usual BULLSHIT slimy politicians you fucking sheeple! Any fresh air will be demonized...BAAAA-OBAMA,,,BAAAA-PELOSI! (dumbfucks!)

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Poster: dead-head_Monte Date: Nov 17, 2011 12:31pm
Forum: occupywallstreet Subject: Re: more numbers - How about TIME Magazine • June 1933?

Where Is Our Ferdinand Pecora?

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By Ron Chernow, Op-Ed Contributor
published January 5, 2009

1101330612_400.jpgBARACK OBAMA has assigned a top priority to financial reform when the new Congress assembles today. If history is any guide, legislators can perform a signal service by moving beyond the myriad details of the rescue plans to provide a coherent account of the origins of the current crisis. The moment calls for nothing less than a sweeping inquest into the twin housing and stock market crashes to create both the intellectual context and the political constituency for change.

For inspiration, Congress should turn to the electrifying hearings of the Senate Banking and Currency Committee, held in the waning months of the Hoover presidency and the early days of the New Deal. In historical shorthand, these hearings have taken their name from the committee counsel, Ferdinand Pecora, a former assistant district attorney from New York who, starting in January 1933, was chief counsel for the investigation. Under Pecora’s expert and often withering questioning, the Senate committee unearthed a secret financial history of the 1920s, demystifying the assorted frauds, scams and abuses that culminated in the 1929 crash.

The riveting confrontation between Pecora and the Wall Street grandees was so theatrically apt it might have been concocted by Hollywood. The combative Pecora was the perfect foil to the posh bankers who paraded before the microphones. Born in Sicily, the son of an immigrant cobbler, Pecora had campaigned for Teddy Roosevelt and been imbued with the crusading fervor of the Progressive Era. As a prosecutor in the 1920s, he had shut down more than 100 “bucket shops” — seamy, fly-by-night brokerage houses — and this had tutored him in the shady side of Wall Street.

With crinkly black hair and flashing eyes, Pecora was an earthy populist who appealed to Depression audiences. He was fond of playing pinochle and was often portrayed with a thick cigar clamped between his teeth. When he was hired for $255 per month by the Senate committee, Pecora was earning less money than most Wall Street mandarins disbursed weekly in pocket change.

Pecora was meticulous in preparation and legendary in stamina, mastering reams of material and staying up half the night before interrogations, aided by John T. Flynn, an Irish-American journalist, and Max Lowenthal, a Jewish lawyer. As Flynn wrote, “I looked with astonishment at this man who, through the intricate mazes of banking, syndicates, market deals, chicanery of all sorts, and in a field new to him, never forgot a name, never made an error in a figure, and never lost his temper.”

As Pecora relentlessly grilled the most famous names in finance, the nation relived the 1920s boom in a collective act of national remembrance. The hearings started in a modest committee room, but as the public was swept up in the drama, they shifted to a stately caucus room, illuminated by chandeliers and flashbulbs. As it gained momentum, the inquiry expanded until it shined a searchlight into every murky corner of Wall Street. Pecora exposed a stock market manipulated by speculators to the detriment of small investors who could suddenly attach names and faces to their losses.

Bankers had been demigods in the 1920s, their doings followed avidly, their market commentary quoted with reverence. They had inhabited a clubby world of chauffeured limousines and wood-paneled rooms, insulated from ordinary Americans. Now Pecora defrocked these high priests, making them seem small and shabby.

On Black Thursday of 1929, the nation had applauded a seemingly heroic attempt by major bankers, including Albert Wiggin of Chase and Charles Mitchell of National City, to stem the market decline. Pecora showed that Wiggin had actually shorted Chase shares during the crash, profiting from falling prices. He also revealed that Mitchell and top officers at National City had helped themselves to $2.4 million in interest-free loans from the bank’s coffers to ease them through the crash. National City, it turned out, had also palmed off bad loans to Latin American countries by packing them into securities and selling them to unsuspecting investors. By the time Pecora got through with the bankers, Senator Burton Wheeler of Montana was likening them to Al Capone and the public referred to them as “banksters,” rhyming with gangsters.

img313.jpgWith a public aching for retribution, Pecora was playing with combustible chemicals, and Wall Street complained that he was destroying confidence. President Franklin Roosevelt retorted that the bankers “should have thought of that when they did the things that are being exposed now.” It was hard for Wall Street to mount a legitimate defense as Pecora pilloried them daily.

His prosecutorial methods grew questionable when he turned to the mysterious world of private banking, exemplified by the House of Morgan. In implacable style, Pecora badgered Morgan partners into admitting that they had paid no taxes for 1931 and 1932 — an incendiary revelation when the country was undertaking huge public works projects to combat unemployment. That the Morgan men had avoided taxes because of stock market losses was lost amid the hubbub.

No less inflammatory was exposure of Morgan’s “preferred list” by which the bank’s influential friends participated in stock offerings at steeply discounted rates. The renowned names on the list, including Calvin Coolidge, the former president, and Owen J. Roberts, a Supreme Court justice, shocked the nation with its unseemly association of money and power.

One Morgan partner, George Whitney, lamely explained that the intent was to safeguard small investors by preventing them from assuming such risk. To which Pecora responded tartly in his best-selling book, “Wall Street Under Oath,” “Many there were who would gladly have helped them share that appalling peril!” Such was the furor over the Morgan testimony that Senator Carter Glass of Virginia shook his head and sighed, “We are having a circus, and the only things lacking now are peanuts and colored lemonade.”

Seizing on the comment, a press agent for the Ringling Brothers Circus took advantage of a pause in the hearings to pop Lya Graf, a midget in a blue satin dress, on the lap of the portly and surprised J. P. Morgan Jr. The committee chairman, Senator Duncan Fletcher of Florida, pleaded with newspapers not to print the pictures, which only made them rush to do so.

morganmidget_E_20100112141304.jpg

The photo of Morgan with a circus midget planted on his lap became the signature shot of the hearings, emblematic of Wall Street’s fallen state. An embittered J. P. Morgan Jr. said Pecora had “the manners of a prosecuting attorney who is trying to convict a horse thief.”

0112_jp-morgan_390x220.jpg

Whatever their failings, the Pecora hearings laid the groundwork for financial reform legislation. By the time they ended in May 1934, they had generated 12,000 printed pages of testimony, collected in several thick volumes. These documents have served generations of historians. Our national narrative of stock market mayhem in the 1920s is largely composed of characters and anecdotes gleaned from their pages.

Pecora not only documented a litany of abuses, but also paved the way for remedial legislation. The Securities Act of 1933, the Glass-Steagall Act of 1933 and the Securities Exchange Act of 1934 — all addressed abuses exposed by Pecora. It was only poetic justice when Roosevelt tapped him as a commissioner of the newborn Securities and Exchange Commission.

Our current stock market slump and housing bust can seem like natural calamities without identifiable culprits, creating free-floating anger in the land. A public deeply disenchanted with our financial leadership is desperately searching for answers. The new Congress has a chance to lead the nation, step by step, through all the machinations that led to the present debacle and to shape wise legislation to prevent a recurrence. [end]

By Ron Chernow, NY Times Op-Ed Contributor - published January 5, 2009
Ron Chernow is the author of “The House of Morgan”.

Ron Chernow in The House of Morgan has written an epic study of the Morgan banking empire, from its origins in the nineteenth century through its diversification into three financial giants in the late twentieth century. Chernow’s book is a model of institutional history. He has mastered the vagaries of a multiheaded banking firm over the course of more than a century, without losing the thread of an engrossing story. Chernow brilliantly brings to life the men who made and staffed the Morgan empire. His work received the 1990 National Book Award for nonfiction.

Financial Inquiries and the Pecora Legacy - May 6, 2009 | N.Y. Times | by Kate Phillips

Historical accounts of the Pecora hearings provide a reading experience that is as page-turning as a suspense novel. “The Pecora commission created villains essentially,” said Donald Ritchie, associate historian for the Senate. “This riveted the public because it was daily headlines for months." Pecora unmasked hidden bonuses and exorbitant salaries banking leaders had received; uncovered unpaid taxes and wrongdoing. (It was noted in some accounts that Time magazine coined the phrase “bankster” back then.)

• April 24, 2009 - Ferdinand Pecora discussion with Bill Moyers, Simon Johnson and Michael Perino.

profile_pic2.jpgBill Moyers talks about the economy and Wall Street's future with Simon Johnson, former chief economist of the International Monetary Fund (IMF) and a professor at MIT Sloan School of Management, and Michael Perino, professor of law at St. John's University and an advisor to the Securities and Exchange Commission. Michael Perino has written an account of the 1933 Pecora hearings.

In the early 1930's, during the Great Depression, and under threat of subpoena, one tycoon after another, including J.P. Morgan Jr., was hauled before the Senate Banking Committee and grilled by Pecora, the committee's chief counsel. Ferdinand Pecora was a savvy immigrant from Sicily who became a Manhattan prosecutor. His memory for facts and figures proved to be the undoing of a Wall Street banking world gone berserk with greed and fraud.

Ferdinand Pecora is pictured on the cover of TIME Magazine in June 1933. "Wealth on Trial" reads the headline inside, where Pecora is described in ethnic stereotypes of the day as "The kinky-haired, olive-skinned, jut-jawed lawyer from Manhattan." To their shock, pompous financiers, unaccustomed to having their actions or integrity questioned by anyone, much less some pipsqueak legalist making $255 a month, were no match for his cross examination.

The revelations of the Pecora hearings and the public's anger led to sweeping reform, reining in the high-handed, free-wheeling banking industry. Those reforms stabilized our financial world for half a century, until the titans of finance and friendly politicians began to dismantle them.

Simon Johnson, Michael Perino, and Bill Moyers discussion - April 24, 2009
watch | listen | read the transcript on-line

Simon Johnson & Michael Perino profiles

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Poster: Administrator, Curator, or StaffNoiseCollector Date: Nov 17, 2011 1:33pm
Forum: occupywallstreet Subject: Re: more numbers - How about TIME Magazine • Monday, June 24, 1974

http://www.time.com/time/magazine/article/0,9171,944914,00.html

Global cooling?

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Poster: dead-head_Monte Date: Nov 18, 2011 7:18am
Forum: occupywallstreet Subject: Re: more numbers - How about Climate Cranks posing as Skeptics?

Re: the paragraph you linked to from Time magazine, June 24, 1974.

I accept that you agree with the 2 or 3 percent who don't believe what 97 percent of The World's Scientists are saying about Global Warming and Climate Change. 97% of Climate Scientists today believe that man-made global-warming gases being emitted into our Earth's atmosphere are rapidly creating extreme weather events and disasters all around Our Planet. Let's move on, look ahead, and try and imagine what's in store for our futures.

• You (and most of the 2 or 3 percent) call yourselves "climate skeptics." This is a FALSE distinction. You're a climate crank. We just examined, discussed, and exposed Climate Cranks in my new OWS movie item about the Tar Sands Keystone XL oil pipeline. Please watch and listen to Tracks 8, 9, and 10. The case for you being a climate crank is made very strongly. Total running time for Tracks 8, 9, and 10 is about 21 minutes
disbelief_in_the_science_of_global_warming.jpg

Environmental journalist Mark Hertsgaard says, "[Here's] the problem. They [U.S. Senator James Inhofe, Fox News, U.S. Mainstream Media] are climate cranks. They like to be called "climate skeptics." And the media, I’m very sorry to say — the mainstream media, at least — calls them climate skeptics. They are not skeptics. Genuine skeptics are invaluable to science. That’s how science progresses, is with skepticism. But a true skeptic can be persuaded by evidence. They cannot. They have made up their minds for economic reasons or ideological reasons that they’re not going to believe in this. And because our country has allowed them to dominate the debate for 20 years, we’re now stuck with 50 more years of rising temperatures."
IPCC chief braced for storms of denial over extreme weather report
by George Black - part of the Guardian Environment Network
guardian.co.uk, Friday 18 November 2011 04.53 EST
UN climate science panel chairman Rajendra Pachauri says he is ready for attacks from climate sceptics (Climate Cranks!) over the panel's new extreme weather report.

A major new report is due out today (Nov 18) from the Intergovernmental Panel on Climate Change that will link an increase in extreme weather events and disasters to global warming. A few days before its release, I had the chance to sit down with Dr. Rajendra Pachauri, chair of the IPCC -- the man the climate skeptics love to hate.

The report is, to put it mildly, well-timed, after this year's freakish sequence of extreme weather events, from the unprecedented heatwave and drought in Texas to the horrendous floods in Bangkok, which have left 562 dead at the last count. Pachauri said he was quite ready to face a fresh onslaught from deniers and skeptics -- particularly the inevitable scoffing that there was no proof that any of these incidents could be laid at the door of climate change.

It would probably be much like 2009 and early 2010, he said, when the skeptics threw a series of hand grenades at the IPCC -- unfortunately to great political effect. They focused mainly on a slip-up in the IPCC's usually meticulous review process in its fourth periodic assessment report, issued in 2007, the subject being the disappearance of the Himalayan glaciers. The report included an estimate that "if the present rate [of melting] continues, the likelihood of them disappearing by the year 2035 and perhaps sooner is very high (IPCC-speak for 90 percent-plus likely) if the earth keeps warming at the current rate." This prediction came from a 1999 magazine interview with India's leading glaciologist, Syad Iqbal Hasnain, not an article in a peer-reviewed journal.

So, yes, a small lapse, and within 24 hours the IPCC had acknowledged it. But how significant was the error? It happened that I had interviewed Hasnain in New Delhi in 2009; he told me that he had slightly modified his projections on the basis of new data compiled over the intervening decade. What he said now was, "If the current trends continue, within 30 to 40 years most of the glaciers will melt out." It was hard to be more precise, he said, because so much of the affected region in India, Pakistan, and Tibet is off-limits to researchers for national security reasons. So most of the glaciers are very likely to be gone by 2040 to 2050, rather than all the glaciers are very likely to be gone by 2035.

If I were one of the 1.5 billion Asians whose future survival depends on meltwater from the Himalayas, I'm not sure I'd grasp the fine distinction.

The second assault was on the integrity of Pachauri himself, accusing him of a conflict of interest as a paid consultant for the likes of Deutsche Bank -- which may be the single most enlightened financial institution in the world on the subject of climate change. Pachauri's fees, in fact, went straight to renewable energy projects, such as the provision of solar lanterns and fuel-efficient cookstoves to villages that lack electricity, run by the New Delhi-based not-for-profit organization he also heads -- the Energy and Resource Institute (TERI).

t had obviously been a harrowing experience, one of Pachauri's senior associates told me, but he never lost his Olympian calm or his warm collegiality, turning out every weekend as usual -- at the age of 70 -- to play for TERI's redoubtable cricket team.

In the long run, Pachauri told me the whole "Himalayagate" affair had only strengthened the IPCC. "The processes we follow are our biggest strength," he told me. "We took the initiative with the U.N. Secretary General to review those processes, and it was gratifying that the independent review found our work solid and robust. But look, we've been around for 23 years now. You change with the times. There's always room for refinement. We know we're under constant intense scrutiny, and we change with the times -- which I think is to our credit." The new report on extreme weather, he added, would be a good illustration of that process of constant refinement.

Of course, he said, it's in the nature of extreme weather that no single event, no single incident, can be linked directly to global warming. Recall the controversy over Hurricane Katrina. Pachauri wasn't able to comment on the specifics of the report pre-publication, but his underlying message was clear. "As we said in the 2007 assessment report," he told me, "floods, droughts, and heatwaves will all increase. We abide by that, and we hope the world accepts it. We can never link a specific event, but the aggregate analysis is totally sound."

Most of the world will accept it. Those who won't, won't, he said. "Some find us inconvenient. We will always be opposed by vested interests, and if people still want to attack us, there's nothing we can do about it." With that, he apologized for not being able to continue the conversation: he had to join an important conference call with the vice-chairs of the IPCC -- no doubt, his press officer said, to review some last-minute questions about the upcoming report. Pachauri rose to shake hands in farewell, Olympian calm intact.

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Poster: Administrator, Curator, or StaffNoiseCollector Date: Nov 18, 2011 2:56pm
Forum: occupywallstreet Subject: Re: more numbers - How about Climate Cranks posing as Skeptics?

Actually I stopped reading everything a long time ago and just find random links to post, what are we talking about here again?

(I'm like MSNBC, just not going to listen to anything I disagree with, make fun of it, act like a smug intellectual, etc)

Have a great weekend!

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Poster: deadhead53 Date: Nov 17, 2011 8:49am
Forum: occupywallstreet Subject: Re: more numbers

Noise, you should know by now the Debt and logic does not matter!

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